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NoVella Apts Sold for $39.6M

September 27, 2017
RMS Companies sold The NoVella apartments at 1245 Chapel St. in New Haven, CT for $39.63 million, or about $291,000 per unit, to Twining Properties.

The NoVella features 136 residential units. Built in 2015, the NoVella apartments are composed of studio, junior one-bedroom, one-bedroom and two-bedroom apartments. Some amenities include an on-site pharmacy and gated parking.

“The Novella is one of the very few luxury assets located in the core Yale district and is highly walkable to the Old Yale campus, Yale Hospital, the central business district and the core commercial district,” says Victor Nolletti, senior managing director leading the Northeast for IPA’s Northeast and Florida team.

Victor Nolletti and Eric Pentore of Marcus & Millichap, Inc. represented the seller.

Please see CoStar COMPS #4012878 for more information on this transaction.
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